Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Retired Indian Navy vessel, the INS Viraat, will be auctioned on Dec 17 by the country’s ministry of defence. 


The e-auction will be conducted by the state-owned Metal Scrap Trade Corporation (MSTC) between 12-4pm. 


INS Viraat displaces 24,000 tonnes of water on standard load and has a length of 740ft, with a 160ft beam and 29ft draught. 


As per auction pre-condition, 10pc of the metal from the ship will be used for domestic projects. 


The pre-bid earnest money deposit is Rs5.30cr. 


A ship has an estimated 100,000tn of scrap metal which can be salvaged.

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